Newport Beach-based investment firm Excelsior Capital Partners LLC has acquired office furniture maker Via Seating Inc.
Reno-based Via specializes in office chairs and lounge seating products.
Via was founded in 1987 by Thomas Sorensen and is headed by Chief Executive Chas Helper.
Excelsior said it has assumed a majority stake in Via through a balance sheet restructuring.
Financial details of the company or specifics of the investment by Excelsior weren’t available.
Excelsior invests in the debt of financially distressed businesses and provides specialty lending services. It also focuses on special situations, in which it considers companies that are in transition and facing operational or other challenges. It invests between $3 million and $100 million in such businesses, according to its website.
Excelsior was founded in 2011 by Ravi Bhagavatula, who serves as a managing partner, along with Mark Ziegler. It has another office in Denver, and has made more than 50 investments valued at about $450 million.
